Bob Evans sells off restaurants to owners of Red Lobster

Posted at 10:56 AM, Jan 25, 2017
and last updated 2017-01-25 11:03:23-05

NEW ALBANY, Ohio — Bob Evans Farms, Inc., has sold its restaurants to a private equity firm that owns Red Lobster, California Pizza Kitchen, and Payless Shoe Source, among other companies. The company will keep the part of its business, BEF Foods, that sells Bob Evans branded products in stores.

The restaurant part of the business has been struggling, with a decline in recent sales figures, reports Nation’s Restaurant News.

The private equity firm buying the Bob Evans Restaurants is Golden Gate Capital, based in San Francisco, which bought Red Lobster restaurants in 2014, said NRN.

There are seven Bob Evans restaurants in the Grand Rapids area, Muskegon, Holland, Kalamazoo, and Battle Creek.